The latest property market analysis that has been conducted by Benham and Reeves, a London estate agent, has revealed that that the average SDLT bill for the average homebuyer across the United Kingdom over the last 25 years has increased by 490%.
The increase is mainly due to the property boom and with the stamp duty holiday having ended on 30 September 2021, the cost of stamp duty has now never been higher. Further the legislation surrounding SDLT over the last few years has meant that the it has never been more complicated to calculate the rate of tax. For example, the introduction of surcharges for non-residents, first time buyer discounts and second-home buyer surcharge.
If you have any questions, please do not hesitate to contact James Cohen directly on [email protected] or 0207 822 2257.
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